Globalization

• Globalization


  The circumstances of Princess Diana's death
• An English Princess with an Egyptian boyfriend crashes in a French tunnel, in a German car with a Dutch engine, driven by a Belgian, drunk on Scottish whisky followed closely by Italian paparazzi, on Japanese motorcycles; treated by a French doctor, using Brazilian medicines
• Wealth distribution


  • The richest 20% of the world's population own 94% of the world's wealth
  • The wealthiest 2% own over ½ of the world's wealth
  • Over 80% of the world's population lives on less than $10/day
  • More than 58% live on less than $2/day
• Dependency Theory


  Andre Gunder Frank - "The development of underdevelopment"
• World System Theory


  Immanuel Wallerstein
• Imbalance in wealth between First and Third Worlds has its origins in colonialism
• Industrialized area of the world have becoming increasingly prosperous while many Third World countries stagnate
• Frank erred in his emphasis on the exploitation of the Third World, the resources derived are of little importance compared to industrial growth
• Wallerstein's theory is important because it analyzed the world as an overall social system. Countries emerged as different parts of a single set of processes
• Weakness - all focus almost exclusively on economic factors in the development of the world system